Personal Income Tax Lookup & Regulations
Personal income tax (PIT) is one of the important financial obligations that every individual with income in Vietnam needs to understand. From looking up personal tax codes, determining taxable income, to understanding regulations related to PIT from securities, this article will provide an overview and specific instructions, helping employees, accountants and investors easily access the necessary content. Based on current legal regulations, especially Law on Personal Income Tax 2007 (amended and supplemented), We will clarify each aspect for you to apply effectively.
1. What is personal income tax?
Personal income tax is a direct tax that individuals with income must pay to the state budget after deducting deductions according to regulations. According to Article 1 of the Law on Personal Income Tax 2007, Personal income tax applies to both resident and non-resident individuals, depending on whether their income is generated within or outside Vietnam. This is an important tool for the state to manage income while ensuring social equity.
Taxpayers include:
- Resident individuals: Have taxable income arising in and outside Vietnam.
- Non-resident individuals: Have taxable income arising in Vietnam.
2. Taxable and non-taxable income
Determining taxable income is the first step to comply with personal income tax regulations. According to Article 3 of the 2007 Law on Personal Income Tax, taxable income includes:
- Income from wages and salaries: Including basic salary, allowances, bonuses, and other income from labor contracts.
- Business income: Profits from production and trading of goods and services (except for some exempted cases).
- Income from property transfer: Like real estate, stocks.
- Income from capital investment: Dividends, bond interest, minus bank deposit interest.
- Income from winnings: Lottery winnings, promotions (except casino winnings).
In contrast, some income items are not subject to personal income tax as prescribed in Article 4 of the Law on Personal Income Tax 2007, include:
- Interest on bank deposits and credit institutions.
- Pension paid by Social Security.
- Income from scholarships, gifts from charities.
- Income from real estate transfers between spouses, parents and children.
Understanding these income sources helps employees and accountants avoid errors in declaration and optimize tax obligations.
3. Personal income tax from securities
For investors, personal income tax from securities is a major concern. According to Article 22 of the Law on Personal Income Tax 2007 , and Decree 65/2013/ND-CP, Income from securities transfer is subject to a fixed tax rate of 0,1% on the transfer value each time, regardless of whether there is a profit or not. Income from dividends or bond interest is exempt from personal income tax.
For example: If you sell shares worth 500 million VND, the amount of personal income tax payable is:
500.000.000 x 0,1% = 500.000 VND.
Note that investors need to keep transaction documents to serve tax declaration and settlement when necessary. Securities companies often support direct tax deduction, but investors should check carefully to ensure accuracy.
4. How to look up personal tax code
Personal tax identification number (MST) is a unique 10-digit number, issued by the General Department of Taxation to manage each individual's tax obligations, according to Article 30 of the Law on Tax Administration 2019. Tax code lookup is very simple and can be done online, suitable for employees, accountants or anyone who needs to check tax information.
Instructions for looking up personal tax code:
- Visit the General Department of Taxation website: Go to page tracuunnt.gdt.gov.vn.
- Enter information: Fill in ID card number/CCCD/Passport number and confirmation code (captcha).
- View results: The system will display the MSTCN along with related information such as date of issue and operating status.
Alternatively, you can use the app eTax Mobile (download from CH Play or AppStore) for faster lookup:
- Log in with personal tax code or CCCD number.
- Select "Look up NNT information" to see details.
If you do not have a personal tax code, you can register directly at the tax authority or through the income paying organization (enterprise, company).
5. Benefits of looking up and understanding personal income tax regulations
- For employees: Looking up tax code helps check tax status, ensure family deduction benefits (VND 11 million/month for yourself and VND 4,4 million/month for each dependent) and tax refund if overpaid.
- For accountants: Update new regulations from documents such as Circular 80 / 2021 / TT-BTC Support reporting and tax settlement accurately and on time.
- For investors: Understanding personal income tax from securities helps optimize profits and comply with the law.
6. Conclusion
Personal income tax is not only an obligation but also a tool to help individuals and businesses manage their finances effectively. Looking up personal tax codes, determining taxable or non-taxable income, and understanding personal income tax from securities are important steps to ensure compliance with the law. With the above instructions, we hope that you - whether you are an employee, accountant or investor - will easily apply and update the necessary information.
If you need further assistance or have questions, Contact Vieter tax experts today for quick, effective and completely free advice!
